Overview

• The $5 million Gold Card visa, announced by Donald Trump in February, offers wealthy foreigners a path to U.S. permanent residency and citizenship.
• Elon Musk’s Department of Government Efficiency (DOGE) is collaborating with federal agencies to create an online portal and application system for the program, expected to be ready within 10 days.
• The Gold Card is designed to replace the EB-5 visa, which required investments tied to job creation and generated $4 billion in revenue last year.
• Commerce Secretary Howard Lutnick claims 1,000 visas have been sold, but insiders report no payments have been processed yet.
• The system aims to fast-track background checks and interviews, with residency decisions promised within two weeks of application submission.